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with the gdp number? the gdp number was caused by the government spending, specifically defense spending. >> which was deficit spending, printing press! >> steve, you're absolutely wrong there. >> what does it have to do with the printing presses? >> what i'm saying part of it, you can't blame it all on government spending. >> yes, i can, as a matter of fact. i can blame it on inventory from government spending. >> hold on. >> would you be willing to admit that the foundation of the economic recovery thus far has been housing and that the fed by its policies of late have at least somewhat helped the recovery in housing which has helped the overall economy which has helped the stock market go up. >> what recovery? we're at a negative gdp. >> it hasn't helped housing but it's about to. >> a recovery in housing. let's at least establish that. >> you're saying leading the economy is housing. housing is doing better, but the economy is -- we have a negative print on the numbers. >> that's the best strategy. don't look at the details. only look at the top line and take it at face value. that's
. health care. health care's a defensive name. so you got people who are buying into the -- >> it's a political name now. >> -- and hiding out in a deferencive name. to me there's a lot of room for rotating. deferencive health ca-- >> how much does the data matter? we're going to get a jobs report on friday. how closely are the markets going to be watching that? because the fed factors into that too. >> just like the durable goods number this morning, that will be further confirmation of an improving u.s. economy and will add fuel to the fire. the economic numbers matter tremendously. the global growth story is what the story is. >> sure. but the point is if the data's bad it means the fed's going to stick around longer. >> i think they have more downside risk at this point. >> tails you win, heads you win too. i don't subscribe to that by the way. >> if there's a really positive move in the data, i would be impressed. i think we have more down risk with that. flat or lower expectations. and that would be a problem. at the end of the day -- health care, i think you've got to be mi
. this last quarter was low, but mine us 0.1% because of defense reduction. other parts of the economy are doing well, especially the consumer. >> let's talk about what took us here. bank of america doing very well, verizon, at&t. you had the financials and the telecom stocks as the leadership groups. merck was down 2%. exxon down. three dow stocks were actually down. what happened there and what are you seeing at the end of the kay? >> finally seeing the laggards catching up and telecoms have done okay during this period, but i think what uruguay seeing is the overall economic data with the exception of the weaker gkp number. all the other data was very strong and all the companies are pulling up with that. >> and then with that, swing it around, what happened there. dts. what happened to that today? so hyped, right, warren? >> we're right at the 14,000 line right now. the dow jones industrial average has just dipped below 14,000, so remains to be seen. we have two minutes to go here to find out if we'll close above it. if you don't have leadership or you don't have participation in t
Search Results 0 to 2 of about 3